National Debt of United Kingdom #UKNationalDebt #deficit #nationaldebt #money
OCT 2017 – National Debt £1.76 Trillion.
UK National debt continues to rise in the last four months although the pace of growth is slowing. The current government is focused on bringing the day to day current account under control and this is showing clear improvement. The estimate this year is that around 100 Billion will be added to the national debt. During 2018 we may see some debt reduction which would be a step in the right direction for the public finances.
For the fiscal year ending in March 2018:
The “current budget deficit*” is estimated to be £18.2 billion.
The difference between spending (including capital expenditure) and revenue is estimated to be £69.8 billion.
The increase in UK “net debt” is estimated to be £100.2 billion.
In terms of Gross Domestic Product the UK “current budget deficit” in 2005 was less than 2 percent of GDP, and declined to about 0.6 percent GDP in 2007 and 2008. In the Great Recession the deficit ballooned, to 6.9 percent of GDP in 2010. Since then the deficit has steadily declined, to less than one percent GDP in 2017.
JUN 2017 – National Debt £1.74 Trillion.
The previous government have clearly failed to reduce the national debt. How will our new government do ……..
March 2017 deficit £14 Billion, giving a full fiscal year total deficit of £139 Billion which is £32 Billion higher than 2015.
It kind of looks like both deficit control and control of borrowing adding to National Debt is failing despite the austerity cuts !
We seriously living beyond our means big time !
NOVEMBER 2015 – National debt UP now sitting at £1.66 Trillion pounds. The new government will need to sell more than Northern Rock Loans to get this falling. What happened to all the Lloyds share sale proceeds then? Not looking like the chancellor is paying down debt at present anyway with the sales of anything!!
The UK trade deficit to Sept 2015 is £9.4 Billion, with £1.09 added in September.
JUNE 2015 – NEWS FLASH NATIONAL DEBT IS DOWN The current figure (at time of print) £1.48 trillion. It’s the end of the first month of a new Government. Tax take cycle is high due to the end of the tax year, but good news, the #NationalDebt figure is down.
The UK Trade Deficit for May narrowed to £1.2 Billion pounds, to you and I that’s the part of the cheque account overdraft !! For the year to date this is the starting figure since we have just moved into a new financial year. Last year’s total overdraft is stated below. It’s very difficult to track down reliable figures on the deficit figure, but we will aim to be as accurate as possible over the coming monthly updates
MAY 2015 – CONSERVATIVE GOVERNMENT RE-ELECTED
As of Q1 2015 #UK government debt amounted to £1.56 trillion, or 81.58% of total #GDP, at which time the annual cost of servicing (paying the interest) the public debt amounted to around £43bn, or roughly 3% of GDP. The debt was forecast to rise to 96% of total GDP in 2013, further rising to 99% of GDP in 2014. At the end of December 2013, public sector net debt (see government debt) in the UK was £1,254.3 billion or 75.7% of GDP.
The total #deficit for fiscal year ended March 2015 was £107 billion. This represents a rate of borrowing of a little over £2 billion per week.
Lets see how the government promises on deficit and debt pan out in the next 5 years, check back for updates.
APRIL 2015 ——> 1.54 Trillion Pounds
JUNE 2014——–>1.25Trillion pounds.
MARCH 2013——> 1.2Trillion pounds.
JUNE 2013———> 1.49 Trillion pounds.
SEPTEMBER 2013 —–> 1.097 Trillion pounds